HKEX pushes listing reforms: confidential filings and lower market cap for start-ups

Hong Kong Exchanges and Clearing (0388) is reportedly planning to announce further changes in its listing reforms by the end of July, allowing start-up companies to submit confidential filings for listing and lowering market capitalization requirements as part of its plan to enhance global competitiveness.

HKEX said it is committed to strengthening the competitiveness of Hong Kong's listing regime, and is currently reviewing and consolidating feedback received from the HKEX Consultation Paper on the Listing Framework Competitiveness Review and will announce the feedback in due course.

A local media reported that the move follows the results of HKEX's consultations with market participants since March. In addition to start-ups, the market capitalization threshold for companies with weighted voting rights and international listings may also be set lower than the requirements proposed by HKEX in March.

A source said in the report that HKEX needs to compete with other markets to attract start-up companies to list in Hong Kong, making confidential filings and lower market capitalization requirements particularly important.

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